© International Trade Centre, International Trade Forum
- Issue 4/2005
 |
Photo: Veritas Architects SDN BHD The ICON: modern,
international and built on firm foundations, like the partnership
between its creators, Malaysian Veritas and Dubai-based Bonyan |
What makes a good service partner? Trust and experience, says
this major Dubai developer.
The Abbasi Group has interests in several areas, including
textile trading, real-estate development and hospitality. Its
Bonyan Emirates Properties is a Dubai-based property developer,
supervising the development of projects for commercial and
residential use throughout the Emirate of Dubai.
After helping develop downtown Dubai in the last decade, we are now
positioning the company to benefit from Dubai's construction and
real-estate boom in the city's newly-developing areas, where the
Government of Dubai has made a strategic decision to open up the
real-estate market to expatriates.
Build personal relations
Bonyan Emirates Properties needed a strategic international partner
to enable it to bring international best-design practice, from an
architectural firm of the highest repute, to Dubai. Although I met
David Hashim, a dynamic young architect from Kuala Lumpur, in 1997
(through attending a Young Entrepreneurs' Organization gathering in
Malaysia), it was not until 2003 that our working relationship
began.
Our first project together is a sizeable commercial property called
the ICON in Dubai Internet City, a zone within the new section of
Dubai dedicated to the high-tech industry and business incubation
for this sector. Modern and stylish structures and state-of-the-art
buildings characterize the area.
What are the criteria that enabled our business relationship to
flourish? Most important of all is trust. I had time to
develop a personal relationship with Veritas's David Hashim before
we embarked on a business relationship. This, I must stress, is one
of the hallmarks of business in the Arab world - a relationship
based on mutual trust and respect.
Another important factor in choosing a Malaysian architectural
practice with which to develop long-term ties was the importance of
working with a company that has experienced the full real-estate
cycle. Malaysia has undergone a real-estate boom. They have learned
how to manage the entire cycle - and they have learned from their
mistakes.
Ismail Akil Abbasi is Chairman of the Abbasi Group in Dubai.
This article is extracted from Mr Abbasi's presentation to the 2005
Executive Forum. The full paper can be found at
http://www.intracen.org/execforum/ef2005/montreux/programme.htm